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Course AIM 3351-001

Professor Ronald J. Blair, CPA, MBA


Term Spring 2007
Meetings SM 1.212, Tuesdays/Thursdays 2:30 – 3:45 pm

Professor's Contact Information


Office Phone 972-883-4430
Other Phone
Office Location SOM 4.227
Email Address rblair@utdallas.edu
T 10:00 – 5:00
Office Hours W 12:00 – 4:00
RF 10:00 – 3:00
TA:
Other Information SM 4.808
972-883-6498

General Course Information


Pre-requisites, Co-
AIM 2301, MATH1236 and 2333
requisites
Other Restrictions
Critical Thinking
Understand and apply income tax concepts that influence
decisions of individual taxpayers.
• Computation of Tax Liability
• Determination of Appropriate Exemptions.
• Determination of Gross Income.
• Application of Personal and Business Deductions.
• Tax Effects of Property Transactions.
Apply concepts to determine the best course of action for
individual taxpayers when confronted with options involving tax
planning.

Ethical Considerations in Tax Practice


Course Description Appreciate the requirements and concepts contained in the
statements on standards for tax practice.
Understand the ethical issues that confront both individual
taxpayers and tax practitioners on a day-to-day basis.

Enhance Communication Skills


Class participation and discussion will improve communication
skills. Skills gained from the above items will be reinforced
through preparation of a Federal individual income tax return.

Enhance Understanding and use of Computers


Applications
By the use of an on-line tax software preparation of the
individual income tax return.

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Homework questions and problems that apply the principles
discussed in the textbook and in class lectures.
Examination questions that apply the integration of principles
discussed in compliance and planning medium.
Learning Outcomes Respond to questions raised in class by instructor and
classmates. Discussion and resolution of issues raised by
students during class discussions.
Prepare a comprehensive tax case study using a computer
based tax preparation service.
West Federal Taxation – Individual Income Taxes,
Hoffman/Smith/Willis
Thomson/RIA/South-Western Publishing – 2007 Edition
Required Texts & Materials
Textbooks and some other bookstore materials can be ordered
online through MBS Direct Virtual Bookstore. They are also
available in UTD Bookstore and Off-Campus Books.

Suggested Texts,
Readings & Materials

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Week
# Date Topic Assignment
Introduction to Federal Taxation
1 J9/11 Chapter 1 Discussion, Questions and Problems –
5, 7, 11, 12, 18, 23, 26, 39, 45, and 51
The Tax Law
Chapter 2 Questions and Problems – 1, 9, 19, 22, 29, 44, 48 and 50
2 J16/18 Tax Formula, Personal Exemptions, Property Trans
Chapter 3 Questions and Problems –
1, 2, 3, 4, 8, 9, 11, 12, 13, 17, 18, 20, 21 and 41
The Concept of Gross Income
3 J23/25 Chapter 4 Questions and Problems – 2, 3, 6, 12, 17, 19, 31, 36,
and 38

Exclusions from Gross Income


4 J30/F1 Chapter 5 Questions and Problems – 5, 8, 11,12, 21, 24, 28, 31,
47, 49, and 59 (prepare to discuss)
F6 Form 1040 Tax Return Software
5 Assign Form 1040 Tax Return Project - due March 29
F8 Test #1 Test 1 - Chapters 1 - 5
Deductions and Losses in General
6 F13/15 Chapter 6 Questions and Problems – 2 , 4, 8, 11, 17,19, 21, 33,
45, 50, 53 and 61 (put data onto workpaper)
Business Expenses and Losses
7 F20/22 Chapter 7 Questions and Problems - 3, 4, 9, 10, 21, 31, 34, 36, 37,
39, and 49
Discuss Test #1
Depreciation, Amortization and Depletion
8 F27/M1 Chapter 8 Questions and Problems – 4, 30, 32, 35, 38, 39, 54, 55,
56, 57, and 59 (depreciation only)
9 M6/8 Spring Break
Employee / Self Employed Related Expenses
10 M13/15 Chapter 9 Questions and Problems – 2, 3, 8, 11, 19, 20, 38, 39,
and 44

Itemized Deductions
11 M20/22 Chapter 10 Questions and Problems - 1, 6, 12, 28, 29, 32, 39, 40,
and 43

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Passive Activity Losses
12 M27/29 Chapter 11 Questions and Problems – 4, 11, 18, 26, 34, 38, 40, 50,
and 56

Form 1040 Tax Return Project due


A3 Chapter 12 Alternative Minimum Tax
13 Questions and Problems – 4, 5, 13, 17, 31, 39, 42 and 47
A5 Test #2 Chapters 6 – 11
Property Transactions - Gain / Loss
Questions and Problems –
Chapter 14 6, 12, 16, 18, 22, 30, 36, 44, 48, 50 and 59
14 A10/12 Discuss Test #2
Property Transactions - Nontaxable Exchanges
Chapter 15 Questions and Problems - 6, 20, 28, 35, 39, 49, 50 and 55
Property Transactions - Capital Gains / Losses
Chapter 16 Questions and Problems – 3, 4, 7, 15, 20, 22 and 23
15 A17/19 Property Transactions - §1231 and Recapture
Chapter 17 Questions and Problems - 12, 15, 23, 37, 38, 49 and 52
Review Form 1040 Tax Return Project
16 A24 Final Exam Emphasis on Chapters 12, 14-17

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Course & University Policies

Grading: Two tests – 25 points each 50


Final exam 25
Form 1040 tax return project 15
Class attendance, participation, periodic quizzes 10
Total points 100

Exams
The two tests and a final are open book, consisting generally of problems,
rules, and concepts similar to the text problems assigned, but answered in
a multiple choice format. Use of computers during the tests/final is
prohibited
Grading
One point is deducted from “Class attendance, participation, periodic
(credit)
quizzes” for each class period missed.
Criteria
Translation of the total point score into a letter grade will be based on the
instructor’s judgment. The letter grade will reflect each student's
performance relative to the course and standards expected of graduate
students at the University of Texas at Dallas

Students should read the assigned chapters and prepare the weekly
assigned problems. Students are strongly urged to work the problems as
assigned before solutions are accessed. This will enable you more quickly
grasp the concepts involved as you compare your solutions to the posted
solution, and will prepare you for the test problems as they will be
very similar in content.

Make-up
None
Exams

Extra Credit None

Points will be discounted for late submission of the return and for failure to
Late Work
take tests at the assigned time

Special Preparation of a Form 1040, individual income tax return project. Project
Assignments will be released on February 6, and will be due not later than March 29.

Class Students should be prompt. One point will be deducted from class
Attendance attendance grade for each class period missed or tardy.

Students are expected to refrain from discuss among themselves during


Classroom
class, except for questions / discussions in regard to subject material in
Citizenship
which all students may participate

Field Trip
N/A
Policies

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The University of Texas System and The University of Texas at Dallas
have rules and regulations for the orderly and efficient conduct of their
business. It is the responsibility of each student and each student
organization to be knowledgeable about the rules and regulations which
govern student conduct and activities. General information on student
conduct and discipline is contained in the UTD publication, A to Z Guide,
which is provided to all registered students each academic year.

The University of Texas at Dallas administers student discipline within the


procedures of recognized and established due process. Procedures are
defined and described in the Rules and Regulations, Board of Regents,
Student
The University of Texas System, Part 1, Chapter VI, Section 3, and in Title
Conduct &
V, Rules on Student Services and Activities of the university’s Handbook of
Discipline
Operating Procedures. Copies of these rules and regulations are available
to students in the Office of the Dean of Students, where staff members are
available to assist students in interpreting the rules and regulations (SU
1.602, 972/883-6391).

A student at the university neither loses the rights nor escapes the
responsibilities of citizenship. He or she is expected to obey federal, state,
and local laws as well as the Regents’ Rules, university regulations, and
administrative rules. Students are subject to discipline for violating the
standards of conduct whether such conduct takes place on or off campus,
or whether civil or criminal penalties are also imposed for such conduct.

The faculty expects from its students a high level of responsibility and
academic honesty. Because the value of an academic degree depends
upon the absolute integrity of the work done by the student for that degree,
it is imperative that a student demonstrate a high standard of individual
honor in his or her scholastic work.
Scholastic dishonesty includes, but is not limited to, statements, acts or
omissions related to applications for enrollment or the award of a degree,
and/or the submission as one’s own work or material that is not one’s own.
Academic
As a general rule, scholastic dishonesty involves one of the following acts:
Integrity
cheating, plagiarism, collusion and/or falsifying academic records.
Students suspected of academic dishonesty are subject to disciplinary
proceedings.
Plagiarism, especially from the web, from portions of papers for other
classes, and from any other source is unacceptable and will be dealt with
under the university’s policy on plagiarism (see general catalog for details).
This course will use the resources of turnitin.com, which searches the web
for possible plagiarism and is over 90% effective.

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The University of Texas at Dallas recognizes the value and efficiency of
communication between faculty/staff and students through electronic mail.
At the same time, email raises some issues concerning security and the
identity of each individual in an email exchange. The university
encourages all official student email correspondence be sent only to a
student’s U.T. Dallas email address and that faculty and staff consider
Email Use email from students official only if it originates from a UTD student account.
This allows the university to maintain a high degree of confidence in the
identity of all individual corresponding and the security of the transmitted
information. UTD furnishes each student with a free email account that is
to be used in all communication with university personnel. The Department
of Information Resources at U.T. Dallas provides a method for students to
have their U.T. Dallas mail forwarded to other accounts.

The administration of this institution has set deadlines for withdrawal of any
college-level courses. These dates and times are published in that
semester's course catalog. Administration procedures must be followed. It
Withdrawal
is the student's responsibility to handle withdrawal requirements from any
from Class
class. In other words, I cannot drop or withdraw any student. You must do
the proper paperwork to ensure that you will not receive a final grade of "F"
in a course if you choose not to attend the class once you are enrolled

Procedures for student grievances are found in Title V, Rules on Student


Services and Activities, of the university’s Handbook of Operating
Procedures.

In attempting to resolve any student grievance regarding grades,


evaluations, or other fulfillments of academic responsibility, it is the
obligation of the student first to make a serious effort to resolve the matter
with the instructor, supervisor, administrator, or committee with whom the
grievance originates (hereafter called “the respondent”). Individual faculty
members retain primary responsibility for assigning grades and
Student evaluations. If the matter cannot be resolved at that level, the grievance
Grievance must be submitted in writing to the respondent with a copy of the
Procedures respondent’s School Dean. If the matter is not resolved by the written
response provided by the respondent, the student may submit a written
appeal to the School Dean. If the grievance is not resolved by the School
Dean’s decision, the student may make a written appeal to the Dean of
Graduate or Undergraduate Education, and the deal will appoint and
convene an Academic Appeals Panel. The decision of the Academic
Appeals Panel is final. The results of the academic appeals process will
be distributed to all involved parties.

Copies of these rules and regulations are available to students in the


Office of the Dean of Students, where staff members are available to assist
students in interpreting the rules and regulations

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As per university policy, incomplete grades will be granted only for work
unavoidably missed at the semester’s end and only if 70% of the course
work has been completed. An incomplete grade must be resolved within
Incomplete
eight (8) weeks from the first day of the subsequent long semester. If the
Grades
required work to complete the course and to remove the incomplete grade
is not submitted by the specified deadline, the incomplete grade is
changed automatically to a grade of F.

The goal of Disability Services is to provide students with disabilities


educational opportunities equal to those of their non-disabled peers.
Disability Services is located in room 1.610 in the Student Union. Office
hours are Monday and Thursday, 8:30 a.m. to 6:30 p.m.; Tuesday and
Wednesday, 8:30 a.m. to 7:30 p.m.; and Friday, 8:30 a.m. to 5:30 p.m.
The contact information for the Office of Disability Services is:
The University of Texas at Dallas, SU 22
PO Box 830688
Richardson, Texas 75083-0688
(972) 883-2098 (voice or TTY)
Essentially, the law requires that colleges and universities make those
Disability reasonable adjustments necessary to eliminate discrimination on the basis
Services of disability. For example, it may be necessary to remove classroom
prohibitions against tape recorders or animals (in the case of dog guides)
for students who are blind. Occasionally an assignment requirement may
be substituted (for example, a research paper versus an oral presentation
for a student who is hearing impaired). Classes enrolled students with
mobility impairments may have to be rescheduled in accessible facilities.
The college or university may need to provide special services such as
registration, note-taking, or mobility assistance.
It is the student’s responsibility to notify his or her professors of the need
for such an accommodation. Disability Services provides students with
letters to present to faculty members to verify that the student has a
disability and needs accommodations. Individuals requiring special
accommodation should contact the professor after class or during office
hours.

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The University of Texas at Dallas will excuse a student from class or other
required activities for the travel to and observance of a religious holy day
for a religion whose places of worship are exempt from property tax under
Section 11.20, Tax Code, Texas Code Annotated.

The student is encouraged to notify the instructor or activity sponsor as


soon as possible regarding the absence, preferably in advance of the
assignment. The student, so excused, will be allowed to take the exam or
complete the assignment within a reasonable time after the absence: a
period equal to the length of the absence, up to a maximum of one week.
A student who notifies the instructor and completes any missed exam or
Religious assignment may not be penalized for the absence. A student who fails to
Holy Days complete the exam or assignment within the prescribed period may receive
a failing grade for that exam or assignment.

If a student or an instructor disagrees about the nature of the absence [i.e.,


for the purpose of observing a religious holy day] or if there is similar
disagreement about whether the student has been given a reasonable time
to complete any missed assignments or examinations, either the student or
the instructor may request a ruling from the chief executive officer of the
institution, or his or her designee. The chief executive officer or designee
must take into account the legislative intent of TEC 51.911(b), and the
student and instructor will abide by the decision of the chief executive
officer or designee.

Off-campus, out-of-state, and foreign instruction and activities are subject


Off-Campus to state law and University policies and procedures regarding travel and
Instruction risk-related activities. Information regarding these rules and regulations
and Course may be found at the website
Activities http://www.utdallas.edu/BusinessAffairs/Travel_Risk_Activities.htm.
Additional information is available from the office of the school dean.

These descriptions and timelines are subject to change at the discretion of the
Professor